The U.S. Treasury Department unveiled a new policy proposal to ensure the 15 percent global corporate minimum tax is properly instituted. As part of President Joe Biden’s $5.8 trillion 2023 budget documents published Monday, the Treasury put forward the new Undertaxed Profits Rule (pdf). This would replace the present U.S. Base Erosion Anti-Abuse Tax,…
15 Percent Global Corporate Tax ‘Very Significant Step Forward’: OECD Official
A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions. OECD Secretary-General…
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